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4. Calculate the margin of error for your interval 5. Calculate the 80% confidence interal. 6. Interpret your confidence interval in the context of this problem. Edit - Insert - Formats - B I U x, x A <>

4. Calculate the margin of error for your interval 5. Calculate the 80% confidence interal. 6. Interpret your confidence interval in the context of this problem. Edit - Insert - Formats - B I U x, x A <>

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Answer 4 , 5 and 6

In a survey, 19 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $38 and standard deviation of $12. Construct a confidence interval at a 80% confidence level. Give your answers to two decimal places for each part. You may carry the rounding down throughout the problem. 1. State the value of the estimate of the population mean. 2. Calculate value of the standard error. 3. Determine the value of z or t that you need to use for your confidence interval, and state it. 4. Calculate the margin of error for your interval 5. Calculate the 80% confidence interal. < ? v < 6. Interpret your confidence interval in the context of this problem. Edit - Insert Formats - B I U x x A A <> Σ Σ
Transcribed Image Text:In a survey, 19 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $38 and standard deviation of $12. Construct a confidence interval at a 80% confidence level. Give your answers to two decimal places for each part. You may carry the rounding down throughout the problem. 1. State the value of the estimate of the population mean. 2. Calculate value of the standard error. 3. Determine the value of z or t that you need to use for your confidence interval, and state it. 4. Calculate the margin of error for your interval 5. Calculate the 80% confidence interal. < ? v < 6. Interpret your confidence interval in the context of this problem. Edit - Insert Formats - B I U x x A A <> Σ Σ
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